HONG KONG, Feb. 11, 2020
HONG KONG, Feb. 11, 2020 /PRNewswire/ -- Far East Consortium International Limited ("FEC" or the "Group") is pleased to announce the acquisition of Ensign House in Canary Wharf, London at a GBP28,250,000 consideration. Located on the north side of Marsh Wall, the 4,572 square metre site sits adjacent to Consort Place, which is a property development owned by FEC consisting of 634-residential unit and 231-room hotel development with a targeted completion in 2023. The site currently comprises an office building with a surface car park which will be demolished and replaced with a residentially-led mixed use development. Ensign House benefits from excellent connectivity, located at an approximate 5-minute walk from Canary Wharf itself and Canary Wharf Station, from which is currently approximately14 minutes into Bond Street by rail. The Elizabeth Line (Crossrail) is due to open in 2020 and will improve connectivity further with Liverpool Street Station of approximately 7 minutes away and Heathrow Airport an approximate 39-minute journey. The circa GBP250m development will serve an increasing residential demand for housing in the area whilst FEC continues to work with local authority, London Borough of Tower Hamlets to deliver a scheme which will also deliver high quality, community-focussed public space.
Mr Chris Hoong, the Managing Director of FEC, announced: "We are very delighted with this acquisition which will significantly strengthen FEC's development presence in Canary Wharf. Residential demand in South Quay is thriving and we're looking forward to continuing to work with Tower Hamlets to deliver a highly desirable place to live."
About Far East Consortium International Limited
Far East Consortium International Limited has been listed on the Hong Kong Stock Exchange since 1972 (HKEx stock code: 35.HK). The Group is mainly engaged in property development and investment, hotel development and management, car park operations and facilities management, securities and financial product investment and gaming operations. The Group adopts the diversified regional strategy and the "Asian Wallet" strategy with business covering Hong Kong, Mainland China, Australia, New Zealand, Malaysia, Singapore, the United Kingdom and other European countries.
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SOURCE Far East Consortium International Limited